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Arcos Dorados Holdings Inc (NYSE:ARCO) reported second-quarter (Q2) 2023 sales growth of 17.1% year-on-year to $1.04 billion.
Analysts expected the company, known as Latin America’s largest restaurant chain and the world’s largest independent McDonald’s franchisee, to report $1.05 billion.
Consolidated revenue rose 38.9% in constant currency. Digital channel sales reached $665.9 million, constituting 49% of systemwide sales in Q2.
Systemwide comparable sales grew 31.5% Y/Y.
The operating margin was 7.2%, and the operating income for the quarter was $74.82 million.
Adjusted EBITDA for the quarter climbed 20.5% to $110.1 million with an adjusted EBITDA margin of 10.6%, up 30 basis points versus last year.
EPS of $0.13 missed the analyst consensus of 14 cents.
Arcos Dorados held $319.1 million in cash and equivalents as of Sept. 30, 2022.
Price Action: ARCO shares are trading lower by 0.47% at $10.55 in premarket on the last check Thursday.
Image: Arcos Dorados
Posted In: ARCO
